Budgeting for your holiday shopping

Budgeting for your holiday shopping

The Christmas season is the most wonderful time of the year. But, that doesn’t mean it isn’t a little stressful as well. In addition to rushing around making travel arrangements and accommodating friends and family, there’s the fact that you spend quite a bit more money during the holidays than the rest of the year. Worrying about money can make shopping for your loved ones difficult. With a few tips and tricks, like budgeting and utilizing credit, you can make this upcoming holiday season a breeze:

Think about costs aside from gifts

When we think about the money we spend during the holiday seasons, shopping is often the biggest expense. But, that’s far from the only thing we spend money on. Think about how much all of the food for Thanksgiving and other holiday meals costs, or the cash that’s spent on outfits for Christmas and New Year’s parties, or plane tickets to visit family. When determining how much money you plan to spend on holiday expenses, don’t discount the money spent on everything other than gifts, and work out your budget to allow you to comfortably purchase those things as well.

Plan how much you want to spend

And stick to it! While you may find the occasional must-buy present a little out of the price range that you budgeted for, don’t make a habit of extravagant gifts. Take all of the above expenses and add them to the amount of money that you plan to spend on each person you’re shopping for. Give yourself a little bit of wiggle room, and stick with that budget. You’ll be happy you did when January rolls around and all of the holiday festivities are said and done.

Don’t shop all at once

If you see something that your friend would love in a shop window in June, purchase it for Christmas! It may seem silly to hold on to holiday presents for so many months, but stocking up throughout the year is a great way to soften the financial blow by the time the holidays roll around. Plus, you won’t find yourself scrambling on Christmas Eve to find the perfect present for your sister. You don’t have to wait around for holiday or Black Friday sales either – shop a Memorial Day or Mother’s Day sale and continue saving money!

“Save your money throughout the year for Christmas shopping.”

Set extra cash aside

Your holiday budget shouldn’t suddenly become an issue once Thanksgiving rolls around. Rather than scrambling to make ends meet with a holiday deadline looming, consider contributing add a little money to a Christmas fund whenever you have some extra cash on hand throughout the year. Whether you take a few dollars from each check, cash in your spare change, or make an effort to put each five dollar bill you receive into a holiday fund, having a safety net like this is guaranteed to make holiday shopping much easier on your wallet. After all, multiple small sums of money are a lot easier to part with than a single lump sum, right?

Consider credit

Speaking of payments, there’s always a credit card option. There’s always a chance that a situation will arise leaving you with little spare money to spend on holiday gifts. If this is the case, or you simply didn’t plan a budget far enough in advance, a Midnight Velvet credit card is a great way to avoid a holiday financial burden! Applying for a Midnight Velvet credit card is quick and simple. Just answer just a few questions as you check out online and you’ll know whether you’ve been approved in as little as 24 hours. Midnight Velvet’s credit cards don’t have any annual fees, and your low monthly payments can be as little as $20. Don’t go without this holiday season – find presents that your loved ones will enjoy at MidnightVelvet.com.